New York Markets After Hours

Pimco Total Return has 11th month of outflows

NEW YORK (MarketWatch) -- Investors pulled a net $3.1 billion from the Pimco Total Return Fund
PTTRX, +0.09%
in March, marking the 11th consecutive month of outflows for the world's largest bond fund, according to Morningstar data released late Tuesday. The withdrawals are the latest setback for portfolio manager Bill Gross, whose fund lagged 95% of peers last month. Gross, who founded Pimco and serves as co-chief investment officer, has been in the spotlight following the high-profile departure of CEO Mohamed El-Erian, who was reported to have left the money management firm on bad terms. The Total Return Fund has lost $52.1 billion to investor redemptions over the past 11 months, according to Morningstar. The fund's assets under management at the end of March totaled $232 billion. The fund returned negative 0.57% in March, while the Barclays Aggregate Bond index returned negative 0.17%.

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